Financial Openness and Capital Inflows to Emerging Markets: In Search of Robust Evidence

Financial Openness and Capital Inflows to Emerging Markets: In Search of Robust Evidence
Author :
Publisher : International Monetary Fund
Total Pages : 32
Release :
ISBN-10 : 9781513515090
ISBN-13 : 1513515098
Rating : 4/5 (90 Downloads)

Book Synopsis Financial Openness and Capital Inflows to Emerging Markets: In Search of Robust Evidence by : Diego A. Cerdeiro

Download or read book Financial Openness and Capital Inflows to Emerging Markets: In Search of Robust Evidence written by Diego A. Cerdeiro and published by International Monetary Fund. This book was released on 2019-09-13 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We reassess the connection between capital account openness and capital flows in an empirical framework that is grounded in theory and makes use of previously unexplored variation in the data. We demonstrate how our theory-consistent regressions may overcome some ubiquitous measurement problems in the literature by relying on interaction terms between financial openness and traditional push-pull factors. Within our proposed framework, we ask: what can be said robustly about the effect of capital account restrictions on capital flows? Our results warrant against over-interpreting the existing cross-country evidence as we find very few robust relationships between capital account restrictiveness and various types of capital inflows. Countries with a higher degree of financial openness are more susceptible to some, but by no means all, push and pull factors. Overall, the results are still consistent with a complex set of tradeoffs faced by policymakers, where the ability to shield the domestic economy from volatile capital flow cycles must be weighed against the sources of exogenous risks and potential long run growth effects.


Financial Openness and Capital Inflows to Emerging Markets: In Search of Robust Evidence Related Books

Financial Openness and Capital Inflows to Emerging Markets: In Search of Robust Evidence
Language: en
Pages: 32
Authors: Diego A. Cerdeiro
Categories: Business & Economics
Type: BOOK - Published: 2019-09-13 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

We reassess the connection between capital account openness and capital flows in an empirical framework that is grounded in theory and makes use of previously u
Capital Account Openness in Low-income Developing Countries
Language: en
Pages: 26
Authors: Mrs.Sarwat Jahan
Categories: Business & Economics
Type: BOOK - Published: 2017-01-18 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

The relevance of recording and assessing countries’ capital flow management measures is well-recognized, but very few studies have focused on low-income devel
Effects of Capital Flow Liberalization
Language: en
Pages: 27
Authors: Tahsin Saadi Sedik
Categories: Business & Economics
Type: BOOK - Published: 2012-11-16 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

This paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic
International Capital Flows and Development
Language: en
Pages: 46
Authors: Mr.Thierry Tressel
Categories: Business & Economics
Type: BOOK - Published: 2010-10-01 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at var
Real Effects of Capital Inflows in Emerging Markets
Language: en
Pages: 50
Authors: Ms.Deniz O Igan
Categories: Business & Economics
Type: BOOK - Published: 2016-12-06 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

We examine the association between capital inflows and industry growth in a sample of 22 emerging market economies from 1998 to 2010. We expect more external fi